Sam Parkin put Swindon into the lead on 37 minutes with a close range shot to give Swindon the half time lead.
Swindon had also had a couple of other chances to score with Fallon also coming close earlier in the half.
Southampton made it 1-1 on 67 minutes with a close range goal from Ormerod forcing the ball past new signing Steve Book, who took over in goal at half time.
In the final 10 minutes Southampton started to have most of the play, and they took the lead after Swindon were unable to clear the ball away after Book had made a good save, but then the ball fell to Peter Crouch who made no mistake in finding the back of the net.
Overall Swindon were unlucky not to have got at least a draw out of the game as for most of the game they matched the Premiership side, and had plenty of chances to score.
The league season starts this Saturday with an away trip to North Wales to play Wrexham, and the first home game of the season is next Wednesday evening against Luton Town.
Remember to get your predictions in for these games to swindon99@hotmail.com and play Beat The Manager. (Follow link on left hand menu)